In 2018 BTC fell 83% in 364 days from its peak. If we are to see a repeat of this then we could see BTC fall to around the $12,000 mark come November. Now here is why I think that this is a strong possibility.
If the US GDP reports come out worse than expected next week and at the end of July which will be the GDP Q2 Advanced estimate then this will trigger a recession. Investors will sell their, assets/stocks and buy USD which will make the USD even stronger.
BTC will drop in price as investors sell, the USD will get stronger as investors buy the dollar resulting in a bigger drop in the crypto market.
The market will take a couple of months to factor all this in. Come November 2022 we have the mid term US elections. If the Republicans win which they probably will (They are pro Crypto) then we will see the start of the next Bull run shortly after.
The weekly charts is the only timeframe I look at and the ADX is still showing a strong downward trend. For me, this is all that matters.
You don't need a page full of lines and drawings. The simpler you keep it, the more successful you will be.
On the 6th of December I predicted this to my brother after asking if the market was away to go parabolic as per the opinions of the Youtube scam artists Bitboy Crypto and Altcoin Daily.
Let me know your thoughts.
In the meantime have a great day!
Chris
If the US GDP reports come out worse than expected next week and at the end of July which will be the GDP Q2 Advanced estimate then this will trigger a recession. Investors will sell their, assets/stocks and buy USD which will make the USD even stronger.
BTC will drop in price as investors sell, the USD will get stronger as investors buy the dollar resulting in a bigger drop in the crypto market.
The market will take a couple of months to factor all this in. Come November 2022 we have the mid term US elections. If the Republicans win which they probably will (They are pro Crypto) then we will see the start of the next Bull run shortly after.
The weekly charts is the only timeframe I look at and the ADX is still showing a strong downward trend. For me, this is all that matters.
You don't need a page full of lines and drawings. The simpler you keep it, the more successful you will be.
On the 6th of December I predicted this to my brother after asking if the market was away to go parabolic as per the opinions of the Youtube scam artists Bitboy Crypto and Altcoin Daily.
Let me know your thoughts.
In the meantime have a great day!
Chris